This publication demonstrates the application of the more common IFRS requirements for first-time annual IFRS financial statements for Canadian investment funds. The financial statements are those for a hypothetical Canadian open-ended mutual fund trust with a diverse portfolio of investments (Sample Fund). For certain of the more important issues, we have provided our observations and, when relevant, a discussion about the Canadian securities requirements and the views of regulators expressed to date. Although Sample Fund is an open-ended mutual fund trust, we have also provided insights on additional issues and implications for other common fund structures in Canada.
We have revised this second edition illustrative financial statements, which we originally issued in May 2013, to assist you in transitioning your investment funds to IFRS. We have also included highlighting in yellow where changes from the first edition have been made. We hope that you find these illustrative financial statements useful. If you have any questions, do not hesitate to contact your local PwC engagement partner, or any of our Asset Management industry experts.